Allianz announces US$1bn multi-family fund
Allianz Real Estate is looking to significantly increase its already sizable residential portfolio in Japan with the announcement of a new US$1bn fund dedicated to the sector
Starwood Capital's J-REIT moves
Starwood Capital has launched a takeover bid for Invesco’s Office REIT in Japan. The REIT has been attracting the attention of analysts for some time for its performance vs peers. It will be interesting to see if other private equity funds join the bidding process. If successful, this will be the first REIT buyout in the market since the Star Asia Group acquired the Sakura Sogo REIT in early 2020.
Activity picks up in the hotel sector
The first major hotel portfolio deal for some time in the Japan market – Blackstone acquires 8 hotels in Osaka and Kyoto from Kintetsu for US$550m.
Luxury retailer LVMH continues growth
LVMH bucks global trends in the retail sector with the opening of two flagship stores in Tokyo over the past week – a brand new 500sqm Hermes store in Omotesando, and the relaunch of Louis Vuitton in Namiki-Dori Ginza following a full interior and exterior revamp of the store.
BentallGreenOak starts 2021 strong
BentallGreenOak is on a roll with the acquisition of a major office building in Nagoya, Hirokoji Cross Tower, for circa US$370m from Mitsubishi Estate. This follows the news earlier this year on the acquisition by BGO of Avex’s HQ building in Aoyama in central Tokyo for close to 700m.